On March 31, 2024, the cloud-based mobile and desktop messaging app Telegram announced that owners of public channels can earn money in the form of Toncoin (TON). According to Telegram’s official blog post, public channel owners with at least 1,000 subscribers can receive 50% of the revenue from ads displayed on their channel.
How Telegram channel owners can earn a free TON coin?
Additionally, channel owners can withdraw their earnings without any extra fees, or they can reinvest them into Telegram ads to reach more users and add more subscribers. Besides earning, Telegram is also introducing a new way to advertise using Toncoin, giving users more options to promote their content.
Telegram has chosen the TON blockchain to make it more secure and different from other web2 ads services. It uses the TON blockchain because it offers low fees, high transaction speeds, and the ability to process a large number of transactions per second. With this, anyone can promote their channel or bot with a low budget using TON coins.
With this revenue-sharing feature from Telegram, they can provide healthy competition to Google’s ads. However, Telegram made this revenue-sharing announcement on February 28, 2024, and since then, the price of Toncoin (TON) has soared by more than 90%.
Toncoin price-performance analysis
Despite this announcement, there hasn’t been any significant price surge reflected in the TON token. Currently, TON is trading near $5.26, and in the last 24 hours, it experienced a price surge of nearly 1.5%. Looking at the performance of TON over a longer period, in the last 7 days, TON’s price remained constant as it experienced a downside momentum of 1%. Whereas, in the last 30 days, following the announcement, TON’s price experienced a gain of over 95%.
This massive price surge in TON highlights investors’ interest and supports TON following its use case in ads sharing on Telegram.
According to expert technical analysis, TON on a daily timeframe is forming a double top price action pattern. There is a high possibility that TON’s price could experience a correction of nearly 15% to the $4.3 level, as it is already trading near its all-time high.
Since the breakout at the $2.95 level, TON’s price has soared by more than 75%; however, to surge further, TON needs a small correction and to retest a few levels. The overall market sentiment is positive, but top cryptocurrencies like Bitcoin, Ethereum, and Binance Coin appear to be struggling to gain momentum.
